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<br />84- 005571
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<br />MORTGAGE
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<br />This Mortgage is entered into between KENNEI'H B. KNOX AND MARILYN M. KNOX, Husband
<br />
<br />and Wife
<br />
<br />(berein "Mortgagor") and
<br />
<br />THE OVERLA.!\ID NATIONAL BANK OF GRAt'ID ISLAND
<br />
<br />(herein H}Iortgagee ,n).
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<br />Mortgagor is indebted to Mortgagee in the principal sum of $ 148, 386.66 , evidenced by Mortgagor's note
<br />
<br />dated Sept. 26, 1984 (herein "Note") providing for payments of principal and interest, with the balance of the
<br />
<br />indebtedness, if not sooner paid, due and payable on Sept. 25, 1985
<br />
<br />To secure the payment of tbe Note, with interest as provided therein, the payment of all other sums, with interest,
<br />advanced by Mortgagee to protect tbe security of this Mortgage, and the performance of the covenants and agreements of
<br />the Mortgagor contained herein, Mortgagor does hereby mortgage and convey to Mortgagee the following described
<br />
<br />property located in
<br />
<br />HRll
<br />
<br />County, Nebraska:
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<br />Part of the Northwest Quarter of the Southwest Quarter (NWtSWt) also known
<br />as part of Lot Four (4) Island in Section Twenty-seven (27), Township Eleven (11)
<br />North, Range Nine (9), West of the 6th P.M., Hall County, Nebraska, IIPre
<br />particularly described as follows: Beginning at a point four hundred eight and
<br />seventy-seven hundredths (408.77) feet south of the Northwest corner of the
<br />Southwest Quarter of Section Twenty-seven (27), TownShip Eleven (11) North,
<br />Range Nine (9), West of the 6th P.M., Hall ('.Gunty, Nebraska, thence nmning
<br />easterly and parallel to the northerly Hn'''f said Southwest Quarter a
<br />distance of four hundred thirty-tlu:ee (-""1' i feet; thr"ice southerly and
<br />parallel to the 'Nest line of s2id sou:' .3t quarter a distance of two hundred
<br />forty feet (240'); thence westerly and pa.rallel to the northerly line of said
<br />southwest quarter for a distance of four hundred thirty-three (433') feet;
<br />thence northerly along the east line of South Locust Street for a distance of
<br />two hundred forty feet (240') to the place of beginning.
<br />
<br />Together with all buildings, improvements, fixtures, streets, aileys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and relllllinders
<br />thereof; including, but not limited to, heating and cooling equipment and such personal property that is attached to the
<br />improvements so as to constitute a fixture; all of which, including replacements and additions thereto, is hereby declaed
<br />to be a part of tbe real estate secured hy the lien of this Mortgage and all of the foregoing heing referred to herein as the
<br />"Property",
<br />
<br />Mortgagor further convenants and agrees, with Mortgagee, as follows:
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<br />1, Payment. To pay the indebtedness and the interest thereon as provided in tbis Mortgage and the Note.
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<br />2. Title, Mortgagor is the O'>vner of the Property, has the right and authority to mortgage the Property, and
<br />warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein.
<br />
<br />o The Property is subject to a Mortgage wherein
<br />
<br />is the Mortgagee, recorded at Book _, Page _ of the Mortgage Records of
<br />Nehraska, wbich Mortgage is a lien prior to the lien created herehy.
<br />
<br />County,
<br />
<br />o Other prior liens or encumbrances:
<br />
<br />3. Taxes, Assessments. To pay when due all taxes, special e.ssessments and all other charges against the Property
<br />and, upon written demand by Mort~agee, to add to the payments required under the Note secured hereby, such amount as
<br />may be sufficient to enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
<br />
<br />4, Insurance. To keep the improvements now or hereafter located on the real estate described herein insured
<br />against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mortgagee, and with loss payable to the Mortgagee, In case of loss under such policies the Mortgagee is authorized to
<br />adjust, collect and compromise, in its discretion, all claims thereunder at its sole option, authorized to either apply the
<br />proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereundeuhall con-
<br />tinue until the sums secured hereby are paid in full.
<br />
<br />5, 0 Escrow For Taxes and Insurance, Notwithstanding anything contained in paragraphs 3 and 4 hereof to the
<br />contrary, Mortgagor shall pay to the Mortgagee at the time of paying the monthly installments of principal and interest,
<br />one-twelfth of the yearly taxes, assessments, hazard insurance premiums, and ground rents (if any) which may attain a
<br />priority over this Mortgage, all as reasonahly estimated from time to time by the Mortgagee. The amounts so paid shall be
<br />beld by the Mortgagee without interest and applied to the payment of the items in respect to which such amounts were
<br />deposited. The sums paid to Mortgagee hereunder are pledged as additional security for the indebtedness secured by tbis
<br />Mortgage, Mortgagor shall pay to Mortgagee the amount of any deficiency between the actual taxes, assessments, insurance
<br />pwmiums and ground rents and the deposits hereunder within 10 days after demand is marle upon Mortgagor requesting
<br />payment thereof.
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<br />6. Repair, Maintenllllee and Use, To promptly repair, restore or rebuild any buildings or improvements now or
<br />hereafter on the Property; to keep the Property in good condition and repair, without waste, and free from mechanic's or
<br />other liens not expoessly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to dimin.
<br />L.n or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with
<br />respect ~o the Property.
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